Qorvo Inc (NASDAQ:QRVO) Position Decreased by WINTON GROUP Ltd

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WINTON GROUP Ltd trimmed its position in Qorvo Inc (NASDAQ:QRVO) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,974 shares of the semiconductor company’s stock after selling 20,300 shares during the quarter. WINTON GROUP Ltd owned approximately 0.09% of Qorvo worth $8,817,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Qorvo by 4,338.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 682,949 shares of the semiconductor company’s stock valued at $1,282,000 after purchasing an additional 667,562 shares in the last quarter. HPM Partners LLC lifted its stake in Qorvo by 20.9% in the 2nd quarter. HPM Partners LLC now owns 54,510 shares of the semiconductor company’s stock valued at $4,370,000 after acquiring an additional 9,435 shares in the last quarter. Jafra Capital Management LP bought a new stake in Qorvo in the 2nd quarter valued at approximately $2,405,000. Millennium Management LLC lifted its stake in Qorvo by 207.7% in the 2nd quarter. Millennium Management LLC now owns 1,310,508 shares of the semiconductor company’s stock valued at $105,063,000 after acquiring an additional 884,601 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Qorvo by 250.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,931 shares of the semiconductor company’s stock valued at $235,000 after acquiring an additional 2,094 shares in the last quarter. Hedge funds and other institutional investors own 94.08% of the company’s stock.

NASDAQ QRVO traded up $1.29 on Friday, reaching $72.68. The stock had a trading volume of 910,457 shares, compared to its average volume of 1,599,312. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 1.18 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.39 and a quick ratio of 2.15. Qorvo Inc has a 1-year low of $64.53 and a 1-year high of $86.84.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, August 1st. The semiconductor company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.20. The firm had revenue of $692.70 million during the quarter, compared to the consensus estimate of $656.97 million. Qorvo had a positive return on equity of 12.85% and a negative net margin of 1.31%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 EPS. On average, equities analysts anticipate that Qorvo Inc will post 5.46 earnings per share for the current fiscal year.

In other news, VP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $73.45, for a total transaction of $220,350.00. Following the completion of the sale, the vice president now directly owns 70,446 shares in the company, valued at approximately $5,174,258.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert A. Bruggeworth sold 5,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $73.98, for a total value of $369,900.00. Following the sale, the insider now owns 185,172 shares of the company’s stock, valued at $13,699,024.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,608 shares of company stock valued at $3,272,006. Corporate insiders own 0.85% of the company’s stock.

Several equities research analysts have commented on QRVO shares. Morgan Stanley cut their target price on Qorvo from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 3rd. BidaskClub cut Qorvo from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Zacks Investment Research cut Qorvo from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. BMO Capital Markets boosted their target price on Qorvo from $67.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, August 2nd. They noted that the move was a valuation call. Finally, ValuEngine raised Qorvo from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $84.33.

About Qorvo

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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